Bill Review: Features, Pricing & Alternatives in 2023

Eric Gerard Ruiz is an accounting and bookkeeping expert for Fit Small Business. He completed his degree in accountancy at Silliman University and is a CPA registered in the Philippines. Before joining FSB, Eric worked as a freelance content writer with various digital marketing agencies in Australia, the United States, and the Philippines. Bill.com also automates the assignment of approvers through Bill Approval Policies. If you think that you need to manually assign approvers per invoice, you can let Bill.com do the majority of the work for you through Bill Approval Policies. Bill.com has an outstanding optical character recognition feature powered by its artificial intelligence .

Bill won’t charge an additional fee for integration, but make sure that you have existing subscriptions with your chosen accounting software. Bill.com has an auditor access feature that gives your company’s auditor easy access to documents without going through you. Just like the approver’s page, the auditors will have a special login page where they can pull up any invoice or record from your account.

The Problem with the Current Accounts Payable Process

Tipalti and Bill.com both offer accounts payable automation tools and employ AI to help businesses accelerate financial workflows. Bill.com supports several tech stack integrations that Tipalti doesn’t, including Tallie, Expensify, and Earth Class Mail. Bill.com’s packages are scalable for different-sized businesses and offer a range of useful features. All plans include standard approval workflow, unlimited document storage, payment support, and AI-powered data entry. Bill.com is an accounts payable solution that helps business owners save time paying bills by automating the accounts payable process and moving everything over to the cloud.

Having an audit trail helps in improving your business’ internal control and prevents employees from performing fraudulent acts. When changes are made to transactions, every change will appear in the audit trail. For example, you can attach a W-9 to a vendor while it’s being stored in a particular folder. In this way, you can access all W-9 forms easily in the W-9 folder or access a specific W-9 by going to the vendor profile. Bill com will enable you to automate tedious tasks that “eat” hours of your life.

Bill.com Customers by Industry

After clicking Approve, Bill.com will generate a timestamp and generate a virtual signature after approval. Once done, the bill cannot be edited or deleted to preserve the integrity of accounting records. In the image below, you’ll see some fields completed for you automatically.

If you want your payments to arrive earlier, you need to pay an extra $9.99 per payment to use the Same-day/Next-Day ACH option. While Bill.com can only be funded in USD, Tipalti can be funded in 28 currencies instead of only in USD. Tipalti executes fast global payments to 196 countries in 120 currencies. Payments can be made in multiple international payment methods—global ACH , wire transfer, PayPal, and prepaid debit card. You can also streamline your FX conversation workflow with advanced FX capabilities such as Multi-FX, FX hedging, and Payee FX optimization.

I could even have made the payment by wiring the money if the vendor was located in one of the more than 130 countries that Bill.com supports. Almost instantly, the site pulled the invoice, due dates, and amount, dropping them in the correct fields on a Bill.com form. I selected the vendor I’d created from a drop-down list and added a description and account.

What are the Use Cases for Bill.com and QuickBooks Online Software?

One of the greatest advantages of this software is the automation of tasks such as invoice processing, bill payments and account reconciliation. This has saved a significant amount of time and effort for our finance team and has improved our financial accuracy. Another strong aspect of Bill.com is the robustness of its reporting capabilities. It provides a wide range of financial metrics and insights that have helped us make data-driven decisions for our business. Additionally, the integration with popular accounting software such as QuickBooks and Xero makes it easy to keep our financial records up-to-date and in sync. Bill.com is a tool that automates accounts payable and accounts receivable processes.

Custom user roles, custom approval limits, and multi-entity/location/accounting files. ACH, international payments, by card, via Bill.com’s network of vendors. Click More Actions on this screen to access the Audit Trail. This page contains a detailed list of every time an employee “touched” that bill. It documents what was changed and what field was affected.

Both payables and receivables; includes workflow options with additional integration features and custom pricing. A range of features, such as custom user roles and approval policies, help improve visibility and control over processes. The only things I found missing were some of the setup tools in the settings, like document templates and user roles.

• You can find our current price structure on our pricing page.
• We work with a lot of vendors where the ‘pay to’ is an agency so we aren’t able to easily connect a vendor for ePayment.
• Now you can get this information by inserting it manually or importing it from your accounting system.
• Here are the four most important signs that your business is outgrowing Bill.com.

If keeping information confidential is important to your growing business, consider Bill.com. Bill.com has profiles on Facebook, Twitter, LinkedIn, YouTube, and Instagram. These channels can also be used for any questions, blog posts, or reviews. The software is tailored to meet the needs of small and medium businesses.

Add to it, it has a committed email address and in this address, vendors can direct their invoices, and the IVA will put it in BILL automatically and begin the bill for you. In QuickBooks Online, you should upload vendor invoices manually or scan them initially with the QuickBooks receipt scanner. BILL also owns the Accountant Partner Program for accounting professionals and firms. This particular plan has a cost of USD 49 per month and it comprises the A/R and A/P functions, along with certain perks for CPAs such as training where they can acquire CPE credits.

Employee Transaction / List

A white-labeled, end-to-end what is an enrolled agent automation platform, Bill.com Connect is offered to financial institutions as part of their single sign-on online business banking ecosystem. BILL offers several tiers of pricing to support different needs. A subscription-free Basic Receivables account lets companies and individuals receive ePayments through the BILL network.

Paying bills and receiving payments faster are the primary functions of Bill.com. Invoices and bills can be instantly accessed online, making the process of managing your cash flow more manageable. Bill.com is also the preferred provider of digital payments solutions for CPA.com, the technology arm of the American Institute of CPAs . BILL provides its invoicing and billing services to accounting businesses for USD 49 every month.

• Payments made by Bill.com are also stored under the vendor with the bill.
• In October 2019, Bill.com started offering new capabilities to help mid-market companies automate their AP/AR functions.
• If the customers or vendors enroll in Bill.com, then sending and receiving payments will be smoother, faster, and better.
• In the image below, you’ll see some fields completed for you automatically.

You can export a Chart of Accounts, Customers, Items, and all the available transactions from QuickBooks Desktop. Our error free add-on enables you to focus on your work and boost productivity. Bill Pay is present with QuickBooks Advanced, Online Essentials, and Plus.

All the other entries in this menu take you to the site’s main sections. By walking you through the basic processes at the start, you learn how easy it is to comply with the workflow. So, with Bill.com, it’s a good idea to familiarize yourself with the site’s core tasks before you start dealing with other settings. Our unbiased reviews and content are supported in part by affiliate partnerships, and we adhere to strict guidelines to preserve editorial integrity.

You can also partially pay bills by modifying the amount under the Payment Amount column. Once you’re set, click Review & Pay to proceed to the Remittance screen. Kofax AP Agility is a cloud-based accounting support software that helps you streamline your accounting data entry. If an international wire transfer is sent in U.S. dollars, users will be charged $9.99 per transaction. Supported payment methods include ACH, international transfer, check, credit card, and virtual card.

Nothing is streamlined at all and the way it’s set up now goes against common sense because the flow is just terrible. Also, I can’t see if a vendor check or ePayment has cleared at a glance in the payment tab since I have to click open the actual payment for this info now. There’s so much wasted space where the vendor details used to be when you open a vendor profile. There are just 3 unhelpful lines of vendor info and 90% empty white space which takes up half my viewing screen. When I edit the vendor details, the country of residence is at a section on top instead of being grouped with the address section.

You are processing smaller supplier payments and your suppliers do not demand prompt payments. Payers need a separate instance of Bill.com for each entity, so payers can’t instrument centralized controls and will have to reconcile payable data manually for each entity. Speed up financial close with instant payment reconciliation down to the transaction level, then synchronize data with an ERP. Data is quickly imported into the cost management cloud dashboard with smart bill pay insights. $25 per month and $0.50 per domestic transaction after 10 free payments.